By the Way Newsletter

 

The By The Way newsletter is a great way to keep Kentucky credit unions informed of the latest updates in governmental affairs, compliance and regulations, education and training.  In addition, By the Way highlights the difference credit unions are making on a daily basis.

League Updates

• President's Message
  
  
• Advocacy Update
  
  
• League Awards

From America's Credit Unions

• Collections & Bankruptcy School 2025

Educational Opportunities

• Step into the spotlight at VISION 2025!
  
  
• Supervisory Committee University
  
  
• Enhanced Financial Counseling Certification Program (FiCEP)
  
  
• 2025 Women's Leadership Conference
  
  
• Registration is now open for the 2025 SRCUS Directors' and Supervisory Committee Conference!
  
  
• Save the Date: 2026 Visionaries Retreat

Credit Union News

• Eastern Kentucky Federal Credit Union (EKFCU) has officially merged into Commonwealth Credit Union
  
  
• Opportunities Abound Foundation Announced During Abound's Annual Meeting
  
  
• Abound Awards $25,000 in Roush Scholarships, Announces New 4-Year Renewable Structure
  
  
• Park Community Credit Union Named One of the Best Places to Work in Kentucky for 13th Consecutive Year
  
  
• Commonwealth Credit Union Recognized as Best Place to Work for 7th Year Straight
  
  
• Abound Opens New Jeffersontown Branch, Expanding Financial Opportunities for Military, Veterans, Students and More

Compliance Updates

• Part of the Community?
  
  
• Are You Reg CC Ready?
  
  
• Heads up – USPS Postal Money Orders have changed!
  
  
• Probably Not New News – but a Nice Concise Update, on the CFPB…

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President's Message

Preserving our future...

I want to extend a personal thank you to everyone in our movement who has participated in Don't Tax My Credit Union. From post cards to social media to emails to T-shirts and everything in between, Kentucky's credit unions are proving once again that we "punch above our weight!"  We know that the elimination of our federal tax status would ostensibly kill the not-for-profit financial services model and we won't stand for it.

We're not out of the woods entirely, but we're pleased with the outcomes so far. We won't let up the pressure on our lawmakers.

...and our past!

You may recall that, last year, we announced a major project to digitize all the images found in a dozen file cabinets in the old League administration office. We're pleased to announce that all 12,000+ images have been digitized and are now available for everyone to view, print, reminisce over, laugh at, and whatever else you'd like to do. The images are saved in alphabetical (when we had names attached) or chronological order (all the way back to the 1930's!)

You can access the images HERE.

Happy scrolling. If you find anything particularly valuable in the archive, shoot a copy of it to us so we can highlight it to everyone else.

Sincerely,

Jim Kasch

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Advocacy Update

A Victory Worth Celebrating—And Continuing

May is typically a month of transitions—wrapping up the school year, stepping away from the legislative session, cheering on the Kentucky Derby, and welcoming the approach of summer. This year, however, May also served as the backdrop for a critical advocacy effort to protect the Credit Union Tax Status during a pivotal moment in federal policymaking.

While the Republican-led House of Representatives developed, debated, and ultimately passed its version of the budget reconciliation package—one with sweeping reforms to government spending, taxation, and entitlement programs—credit unions across Kentucky and the nation rallied to ensure our interests were safeguarded.

With Kentucky’s own Congressman Brett Guthrie chairing the Energy & Commerce Committee and Congressman James Comer leading the Oversight Committee, we had a front-row seat to the process—and two strong allies in our corner. Through a united and strategic advocacy campaign, credit union members raised their voices under the rallying cry, “A tax on my credit union is a tax on me.” That message resonated, and as a result, the Credit Union Tax Status remained untouched in the House package.

This is a significant victory and one worth celebrating—but our work isn’t done. As we move into June, attention now shifts to the Senate as they begin crafting their version of the reconciliation bill. We remain fully engaged and committed to protecting credit unions every step of the way. Thank you for your continued support and advocacy—together, we’ll keep fighting and keep winning.

Sincerely,
Kyle Hagerty, CUCE
SVP & Chief Advocacy Officer

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It’s Awards Season!

Each year, your League hosts an Awards Banquet to recognize the achievements of individuals, credit unions, and chapters.  Your League sponsors several different awards programs to recognize these achievements.  There is no fee to submit an award. All affiliated credit unions, their employees, and volunteers are encouraged to participate.   

Nomination Deadlines:

ACU Awards
June 7, 2025

Kentucky Recognition Awards
June 7, 2025

Make your nominations today!

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Collections & Bankruptcy School 2025

September 15 - 18, 2025 Louisville, KY

Overview

Mitigate risk, maximize recovery for members.
Collections & Bankruptcy School equips credit union collections professionals with essential skills and knowledge to effectively manage a collections department, addressing challenges from delinquencies to bankruptcy. Beginning with foundational principles, the curriculum advances through best practices, legal considerations, and the finer points of department management.  

Discover the learning track designed for you.
Choose from two learning tracks to advance your skills, whatever your experience level. New to collections? Start with the Introduction track. More experienced? The Advanced track is for you.

Who should attend?

The Introduction track is best for collections staff with less than five years of experience. Compliance staff, internal auditors, and management needing to understand the big picture may also find this introductory course beneficial. The Advanced track is for collections managers and those who have completed the intro course, or those collectors with more than five years' working experience. 

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Step into the spotlight at VISION 2025!

VISION 2025 is where the stars of Kentucky’s credit unions come together for an unforgettable experience.

Hosted at The Galt House in Louisville, KY, August 13-15, this Hollywood-inspired event brings you a blockbuster lineup of industry insights, networking, and entertainment.

From red carpet networking receptions to award-winning sessions featuring industry leaders, this is your chance to connect, learn, and shine. 

Whether you're a seasoned executive or a rising star, VISION 2025 is your chance to make a scene, roll out the red carpet for success, and leave with a script for the future of your credit union. Don’t miss your cue. Register today!

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Supervisory Committee University

Dates: July 15 & July 22
Time: 3:00 PM – 4:30 PM ET (Each Day)
Educational Investment: $699 per credit union (unlimited attendees)

Join us for a two-part virtual training designed specifically for Supervisory Committee members who want to deepen their understanding of their critical role in credit union governance. Led by nationally recognized attorney and credit union expert David Reed of Reed & Jolly, PLLC, this live and interactive course will cover the essential knowledge, responsibilities, and best practices that every Supervisory Committee member needs to know.

Whether you’re new to the committee or looking for a refresher, this engaging and practical training will help you confidently fulfill your oversight duties, ensure compliance, and strengthen your credit union’s internal controls.

PART ONE: JULY 15
Roles and Responsibilities of the Supervisory Committee
•    Key functions and fiduciary duties
•    Ensuring compliance with regulations and internal policies
•    Monitoring and responding to member complaints

Regulatory Requirements and Compliance
•    Overview of regulatory agencies and key compliance areas
•    Importance of the annual audit and collaboration with external auditors
•    Understanding reporting requirements and timelines

PART TWO: JULY 22
Risk Management and Internal Controls
•    Identifying and assessing risk
•    Evaluating the effectiveness of internal controls
•    Safeguarding against fraud and promoting operational efficiency

Collaboration with Management and External Auditors
Building effective working relationships
•    Understanding the audit process
•    Maintaining independence and objectivity

This LIVE session offers a unique opportunity to engage directly with David Reed – bring your questions and take advantage of valuable group discussion. 

Can’t attend both days live? No problem. All registrants will receive access to the recorded sessions to keep as an ongoing resource – perfect for onboarding future committee members.

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Enhanced Financial Counseling Certification Program (FiCEP)

Your opportunity to become a Certified Financial Counselor is here!

You’ve identified the need: MORE certified financial counselors.

Why? Because your team can see a better future for your members and the communities you serve. To help you reach your goals quicker, your League is opening registration for the 2025 Enhanced FiCEP fall class!

In partnership with Luminate (Louisiana Credit Union League), you can be ready to pass America’s Credit Unions’ certification exam with ease through the Enhanced Certified Financial Counselor Program.

Through this eight-course, you’ll gain access to supplemental webinars, study guides, instructor-led zoom check-ins, exam prep sessions, and much more! 

Registration closes July 3, 2025
Education Program: August 4, 2025 – October 9, 2025

Educational Investment: 
$824 per student with a PDF book
$865 per student with a physical book

Please note, we will be using the 6th edition of the textbook; Previous editions will be incompatible with the 6th edition exam.

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2025 Women's Leadership Conference

July 15-16, 2025 | Margaritaville | Nashville, TN

Join us for the TRGroup Women’s Leadership Conference, a two-day event dedicated to empowering, inspiring, and celebrating women in credit unions and all stages of life. This dynamic event brings together influential speakers, thought leaders, and trailblazers for insightful conversations, skill-building workshops, and meaningful networking opportunities.

 

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Registration is now open for the 2025 SRCUS Directors' and Supervisory Committee Conference!

This conference offers a valuable opportunity for your members to gain crucial insights, connect with peers, and engage in discussions on the key issues shaping the credit union landscape. This year's event will be held at The Westin Savannah Harbor Golf Resort & Spa from Sunday, August 3rd to Wednesday, August 6th.

The comprehensive agenda features a range of timely and relevant topics, including:

• Talent Management: Strategies to recruit, retain, mentor, and motivate young talent in a challenging labor market.   
• Member Engagement: Techniques to enhance customer interactions, build loyalty, and turn members into advocates.   
• Financial Performance: Methods for measuring a credit union's value proposition beyond profit, with a focus on member net worth and productivity.   
• Leadership Development: Building a positive workplace culture, managing staff effectively, and motivating teams.   
• Fraud Prevention: How to spot and stop fraud.   
• Strategic Planning: Achieving long-term success through effective leadership and strategy.   
• Habit Formation: Developing routines to maximize time and energy, both personally and professionally.   
• Board Governance: Preparing boards for the future with proactive and agile governance strategies.   
• Risk Management: Understanding emerging threats and implementing effective oversight strategies.   
• Younger Members: Strategies for winning the hearts, minds, and wallets of the under-25 consumer.  

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Save the Date: 2026 Visionaries Retreat

January 20-23, 2026 | Hawks Cay Resort | Duck Key, FL

Get ready for an exclusive, unforgettable experience!

Join credit union leaders from Kentucky and Ohio at the stunning Hawks Cay Resort for a retreat designed to spark innovation, leadership, and collaboration.

Registration: $999
(Payment option available in January 2026 to align with your budget.)

Event Highlights:

• Premier Location: Recharge and connect in the serene beauty of the Florida Keys at Hawks Cay Resort.
• Strategic Collaboration: For the first time, we’re co-marketing with the Ohio Credit Union League – expanding your network and forging new partnerships.
• Private Board Rooms: Planning ahead? We’ve reserved boardrooms at Hawks Cay exclusively for credit unions who want to hold strategic or private meetings during the retreat.

Who Should Attend:

• This retreat is designed for visionary credit union leaders, including:
  CEOs and C-suite executives
• Senior managers and decision-makers

Mark your calendar – you won't want to miss it!

More details coming Summer 2025!
 

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Eastern Kentucky Federal Credit Union (EKFCU) has officially merged into Commonwealth Credit Union

We Have Exciting News!

We’re thrilled to announce that Eastern Kentucky Federal Credit Union (EKFCU) has officially merged into Commonwealth Credit Union—and with that, EKFCU and its members are now part of the CCU family!

Rooted in Community, United in Purpose

Founded in 1969, EKFCU has proudly served the financial needs of Eastern Kentucky for over 50 years. With a legacy built on integrity, community involvement, and putting members first, EKFCU’s values align perfectly with ours. This merger is a natural fit—uniting two like-minded institutions with a shared mission of improving lives through financial empowerment.

Now Serving You in Prestonsburg

As part of this exciting transition, EKFCU’s former location in Prestonsburg is now officially the Commonwealth Credit Union Prestonsburg Branch, located at:

• 550 N Lake Dr., Prestonsburg, KY 41653

While the name on the building has changed, the commitment to serving the community remains the same. Starting today, all CCU members—including EKFCU members—can visit this branch and enjoy access to the full suite of CCU products and services.

Stronger Together, Across Kentucky

This merger marks a significant milestone in our journey to expand into Eastern Kentucky—a region rich in heritage, resilience, and community spirit. By bringing Commonwealth Credit Union’s resources, technology, and financial expertise to this area, we’re investing in the future of Kentucky. 

Our goal is to create more opportunities for individuals, families, and businesses to thrive. Together, we’re growing stronger and making a greater impact across the state.

We’re honored to welcome EKFCU members and team members into the Commonwealth Credit Union family—and we thank you for being a part of this exciting new chapter.

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Opportunities Abound Foundation Announced During Abound's Annual Meeting

In celebration of Abound’s 75th anniversary, the Credit Union announced the official launch of the Opportunities Abound Foundation during its annual meeting last night.

Abound’s Board of Directors has approved a $75,000 donation to the Opportunities Abound Foundation that will jump start the Foundation’s new Affordable Housing Grant Program. This will provide fifteen $5,000 grants to first-time homebuyers in our communities to assist with their down payments and closing costs. These grants will be available on a first-come, first-serve basis, with application acceptance opening soon.

“Homeownership is an important building block of a successful financial future,” says Ray Springsteen, President/CEO of Abound Credit Union. “With increasing housing costs, it was clear that assisting in this area would be a key focus for the Opportunities Abound Foundation. As with everything we do, our focus is on making more possible for our Members.”

Since 1950, Abound Credit Union has been an integral part of the Kentucky communities it serves, giving back and making more possible. This includes giving back to the military, schools, higher education, and other vital community development initiatives. Now, Abound is doubling down on those efforts and committing to giving back even more through its new Opportunities Abound Foundation.

Aligned with the opportunities that Abound makes possible in Kentucky, the foundation was created as a 501(c)(3) charity, which means contributions to help strengthen local communities are now tax deductible. The Foundation will focus on affordable housing and higher education.

In addition to its new Affordable Housing Grant Program, the Foundation is enhancing the structure of its $25,000 Roush Memorial Scholarship Program. The annual, $2,500 college scholarships will now be renewable for eligible recipients for up to four years. This means each recipient could earn a total of up to $10,000 to help support their higher education goals.

More information about the Opportunities Abound Foundation and Abound’s community-building mission may be found at AboundCU.com.  

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Abound Awards $25,000 in Roush Scholarships, Announces New 4-Year Renewable Structure

Abound Credit Union has awarded a total of $25,000 in college scholarships and recently congratulated its 2025 Roush Scholarship Winners. Each of these 10 deserving winners received $2,500 for college for the upcoming 2025-26 school year. Photos of the 2025 winners will be available on Abound’s website.

The Roush Memorial Scholarship, offered through the new Opportunities Abound Foundation, also has a new, renewable structure to help make higher education more affordable for Kentuckians. Now, each $2,500 annual scholarship is renewable for up to four years. That means scholarship recipients who qualify could earn up to a total of $10,000 over 4-years to help offset the cost of their higher education.

“It’s an exciting time to be a Member of Abound, as the Credit Union celebrates its 75^th year of service and expands our community impact through our new Opportunities Abound Foundation,” says Ray Springsteen, President/CEO of Abound Credit Union. “The Howard Roush Memorial Scholarship is an important example of how we’re supporting the academic success of tomorrow's leaders. We’re committed for the long-term and this scholarship’s new, renewable structure reflects that.”

Applications for the 2026 scholarship will open early next year. College-bound students attending high school in Abound Credit Union’s service area who meet the program’s eligibility criteria may apply. Please visit www.aboundcu.com for complete details.

More information about the Opportunities Abound Foundation and Abound’s community-building mission may be found at AboundCU.com.  

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Park Community Credit Union Named One of the Best Places to Work in Kentucky for 13th Consecutive Year

 

Park Community Credit Union has once again been honored as one of the Best Places to Work in Kentucky, marking an impressive 13th consecutive year receiving this prestigious recognition. The award, presented by the Kentucky Chamber of Commerce in partnership with the Kentucky Society for Human Resource Management (KYSHRM), celebrates companies that exemplify excellence in workplace culture. Park Community was recognized in the medium-sized employer category (150–499 employees), standing out as one of only 26 companies across the state to earn the distinction in 2025. The selection is based on a thorough evaluation of workplace policies and practices, combined with confidential employee feedback. “

We’re honored to be named one of Kentucky’s Best Places to Work for the 13th year in a row. This recognition is a testament to our team’s passion, grit, and commitment to building a culture where people feel seen, valued, and empowered. We also want to congratulate the other incredible organizations recognized this year. Your dedication to creating exceptional workplaces inspires us and raises the bar for all of Kentucky.” – Jana Erny, President & CEO, Park Community Credit Union.

The Best Places to Work in Kentucky program is a statewide initiative aimed at encouraging businesses to prioritize employee engagement and organizational excellence. Research consistently shows that companies with strong, people-focused cultures outperform their peers in productivity, innovation, and retention. Park Community Credit Union, Kentucky’s largest Community Development Financial Institution (CDFI) credit union, is deeply committed to fostering an inclusive, empowering, and purpose-driven workplace for its employees in both Kentucky and Indiana. To see the full list of 2025 winners, visit: www.bestplacestoworkkentucky.com/awards/winners

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